Thursday, September 02, 2010

Trade review 9-2-10

I got some of these things right...



Perfect fade from the gun, en route to a red finish of over 13% after a nominal gap which proved to be the high of the day.


Gap down open, fell 52% on the day. After trying to fill the gap from near the bell, it eventually fell under the open price, a signal to go short, which paid handsome dividends!


Another textbook sell off from near the open, fading all day en route to a down finish of over 60% today!



Weakened early, but came roaring back, sucking in shorts, even those that waited out the first 5 minutes saw this go green later. Finished up over 4.5% so it must be scored as a loss as it faked out "6 minutes in" shorts.



Yep, I get to claim this latest green day as a push. Read my original preconditions for entry. Newbies take note, it showed immediate strength via a gap up, (lod) which immediately climbed and never looked back. As no weakness cues surfaced, no play in any direction was the correct action according to my shorting criteria.


Seemed to stop trading prints mid day or maybe it is just so thinly traded it just looks that way, but at any rate the stock did not move a ton and ultimately finished unchanged, so a push is in order here.


Opening flat, this mostly went nowhere all day, taking the mid 11.60's losing it, retaking it, etc. Finished green by less than 1% and so the breakout barely held. I was unbiased on direction. I could argue this as a win, since the mid 11.60's were achieved in the end, but all things considered it looks more like a push pick.

Daily record: W-3 L-1-P-3

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